Berjaya Land swings to loss in 3Q on absence of one-off gain

• For the nine-month period ending March 31, 2025, Berjaya Land widened its net loss to RM87.35 million from RM10.29 million in the previous corresponding period.

KUALA LUMPUR (May 28): Berjaya Land Bhd (KL:BJLAND) swung to a quarterly net loss of RM56.19 million for its third quarter ended March 31, 2025 (3QFY2025), from a net profit of RM29.33 million a year earlier when there was a one-off gain from equity disposal.

The higher profit in 3QFY2024 was mainly due to a gain on the deemed disposal of partial equity interests in an associated company and the resultant gain on the remeasurement of its retained equity interest in a former associated company, amounting to RM42.50 million and RM56.89 million respectively.

Quarterly revenue increased 9.26% year-on-year to RM2.13 billion from RM1.95 billion, Berjaya Land's bourse filing showed.

The company did not declare any dividend for the quarter.

Berjaya Land is involved in numbers forecast operations (NFOs), auto retailing and its after-sales services, property development and investment, and hotels and resorts.

The company's subsidiary STM Lottery Sdn Bhd reported a higher profit contribution due to an exceptional surge in the accumulated jackpot from the Supreme Toto 6/58 game, given that the number of draws remained the same for both quarters.

Its hotels and resorts business segment also reported higher revenue, driven by a higher overall average occupancy rate.

HR Owen plc also reported higher sales volume in both new and used car sectors and the sales contribution from the new marque, Lotus. However, it is offset by unfavourable foreign exchange effects.

For the nine-month period ending March 31, 2025, Berjaya Land widened its net loss to RM87.35 million from RM10.29 million in the previous corresponding period.

Berjaya Land attributed this to a lower profit contribution from the property development and investment business segment due to the completion of The Tropika, Bukit Jalil project towards the end of the previous financial year.

Looking ahead, the company said it is “cautiously optimistic” that its full-year financial performance will be “satisfactory” and expects its domestic businesses to improve on the back of strong consumer spending and tourism activities.

“As for the gaming business, it is expected to continue its upward trajectory of per-draw sales growth driven by favourable consumer spending and continued consumer interest in the jackpot games,” the company said.

Shares of Berjaya Land were down half a sen or 1.7% at 28.5 sen, valuing the company at RM1.43 billion. The counter has declined 16.18% year-to-date.

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